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CARIB-CAP II Set to Deliver Financial Education Training to Caribbean Micro Entrepreneurs

A three-day Training-of-Trainers Workshop to certify instructors for the CARIB-CAP II project successfully concluded in Kingston, Jamaica last week. The training which took place from July 17-19, 2013, was an important precursor to the full roll-out of the training programmes under CARIB-CAP II which will take place in August 2013. The CARIB-CAP II project, a joint effort by the Caribbean Development Bank, the Multilateral Investment Fund, the European Commission and Citi Foundation, will deliver financial literacy training to approximately 7,000 micro entrepreneurs spread across eight countries. Traditionally in the Caribbean the problem of increasing the poor’s access to financial services has been met with an increase in the supply of micro credit. However, it is emerging that the demand side of microfinance also needs to be considered, as client education can improve financial decision-making and well-being, and increase product uptake and usage. The certified participants will be responsible for conducting the micro entrepreneur training sessions using the financial education curriculum which is being developed by Microfinance Opportunities. CARIB-CAP […]

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Over 60 Traffic Enforcement Officers in Belize Receive Road Safety Training

On July 18 and 19, 2013, the Government of Belize’s Ministry of Finance and Economic Development successfully held the first in a series of introductory road safety training courses, in support of the Caribbean Development Bank (CDB) funded Road Safety Project which was launched in March of this year. Over 60 traffic enforcement officers in the Department of Transport, the Police Department, the Tourism Police, and the municipalities, as well as representatives of the Ministry of Education and the Press Office completed the training. The training was facilitated by Ms. Mavis Johnson, Founder and President of the Canadian Traffic Safety Institute and took place at the George Price Center for Peace and Development, and the Belize Institute of Management. Elements covered during the training include the Five Pillars of the global road safety initiative referred to as the Decade of Action, and a review of the components of an effective management framework including the Safe System Approach. The Government of Belize has received USD7.2 million in loan financing […]

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Dominica Receives Loan from CDB to Clean Up After Recent Floods

The Government of Dominica will receive assistance from the Caribbean Development Bank (CDB) for the clearing and cleaning of areas affected by flooding in April this year following torrential rainfall associated with the passage of a trough system. CDB’s Board of Directors, at their meeting on July 18, 2013, approved an immediate response loan in the amount of US 750,000 which will also allow for the emergency restoration of services following damage caused by the rains and the flood. Over the period April 17 to 25, 2013, a trough system dumped approximately 31.7 inches of rain on Dominica with the east and south-eastern districts being the most adversely affected. Increased runoff volumes caused landslides and rock-falls and also flash flooding which caused significant damage to critical infrastructure elements. High velocity runoff washed away a 25-metre span of the main road in an area known as Williams Estate resulting in the death of two motorists travelling along this road. The loan will not only pay for the clearing of […]

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CDB Provides USD 65 million for LIAT Fleet Modernisation

The Caribbean Development Bank (CDB) is providing loans totalling USD 65 million to four shareholder governments of Regional airline LIAT (Barbados, Antigua and Barbuda, St. Vincent and the Grenadines, and Dominica) to assist with the purchase of aircraft in the context of a Fleet Modernisation Project.  The loan agreements provide for the loans to be on-lent to, and repaid by, LIAT over a thirteen-year period, following a grace period of two years. Co-financing for the Project is being provided by shareholder equity contributions and from the sale of LIAT’s existing aircraft. The loans were approved by the Bank’s Board of Directors during a meeting at its Headquarters in Barbados on July 18, 2013. The Fleet Modernisation Project involves: the replacement of LIAT’s aging fleet through a combination of lease and purchase of aircraft; financing the transition costs associated with the changeover; the upgrade of maintenance facilities; and other institutional strengthening activities. The Project provides LIAT with the most cost-effective means of improving the reliability of its service and […]

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CDB Providing Grants For Community-Based Disaster Risk Reduction and Climate Change Adaptation Projects

The Caribbean Development Bank (CDB) has launched a USD 23.5 million fund which will provide grants to vulnerable communities for community-based disaster risk reduction and climate change adaptation demonstration projects. The Community Disaster Risk Reduction Trust Fund (CDRRF) was established with joint financing from Canada’s Department of Foreign Affairs, Trade and Development – formerly known as the Canadian International Development Agency – and the United Kingdom’s Department for International Development.   Grants will range in value from USD 400,000 to USD 650,000.  CDB’s Project Manager for the Disaster Risk Reduction Fund, Mr. Leslie Walling, notes that the CDRRF has been designed to provide direct and responsive support for projects that address the specific, local disaster risk, climate change circumstances and risk reduction needs of each target community.  “Although extreme natural hazard events such as hurricanes, storms, droughts and climate change effects such as sea-level rise may affect an entire country, in the final analysis, all disasters are local phenomena. This means that disaster risk reduction and climate change adaptation […]

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BNTF Launches Regional Workshop on Results-Based Management, Monitoring and Evaluation

Today, July 16, 2013, the Caribbean Development Bank (CDB) launched a Regional four-day workshop in Barbados focusing on Results-Based Management, Monitoring and Evaluation (M&E) for its Basic Needs Trust Fund (BNTF) Implementing Agencies, partner organisations and technical consultants.  Workshop participants are from Grenada, Montserrat, St. Kitts and Nevis, St. Vincent and the Grenadines and Turks and Caicos Islands. The Workshop facilitated by Capability Building Consultant, Mrs. Alexa Khan, will cover areas such as Building a Results Monitoring System, Developing Outcome Statements, Data Collection Tools and Questionnaire Design. According to Mrs. Darran Newman Belgrave, Portfolio Manager, Social Sector Division, Projects Department, CDB, the workshop seeks to close gaps in results monitoring identified during a recently concluded Diagnostic Exercise with CDB staff, BNTF staff, government officials from across the Region and other key stakeholders.   The Results-Based Management, M&E Workshop follows a series of four-day National Workshops held in Dominica, Guyana and St. Lucia geared towards strengthening the measurement and evaluation capacity of the Implementing Agencies and related stakeholders in the […]

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CDB and Germany Host Regional Workshop on Climate Change Finance and the Green Climate Fund

The Caribbean Development Bank (CDB) has organised a Caribbean workshop on Climate Change Financing and the Green Climate Fund at the Barbados Hilton Hotel, Bridgetown, Barbados, on July 15 and 16, 2013, with support from the German Government through the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ).  This workshop brings together high-level policy-makers from Ministries of finance, planning, energy and environment and other relevant Ministries, as well as Regional organisations, international expert, stakeholders from civil society and the private sector to discuss key issues around the global climate change finance architecture and the UN Green Climate Fund.  This Regional meeting follows and builds on a successful international technical workshop held on July 11 and 12, 2013, at the same location, which focused on modalities of support for getting developing countries ready to access the recently established Green Climate Fund. The expected outcomes of the workshop include deepening understanding of the challenges and opportunities of the current climate change financing architecture, identifying specific needs and capacity gaps in the Region, […]

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CDB and Germany Host International Workshop on Readiness for the Green Climate Fund

The Caribbean Development Bank (CDB) and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) have partnered with the Green Climate Fund (GCF) to organise an international workshop on Climate Change Financing and the Green Climate Fund at the Barbados Hilton Hotel, Bridgetown, Barbados, on July 11 and 12, 2013. This workshop brings together Board Members of the GCF, international experts, technicians and practitioners in the field of development and climate finance. It builds on work initiated by the GCF Board members who represents the Small Island Developing States (SIDS) and Least Developed Countries (LDCs) constituencies on the 24 member Board – Zambia and Barbados. “Our extreme vulnerability to climatic events exacerbated by climate change is like a sword of Damocles hanging over our development. However, historically countries from the Region have not received their fair share of international climate change support due to our capacity constraints and accessing multilateral funds remains a challenge for us,” said Hon. Christopher Sinckler, Minister of Finance and Economic Affairs of Barbados. The Board […]

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CDB Supports Government of Belize’s Traffic Law Enforcement Efforts

The Government of Belize’s Ministry of Works and Transport has received much needed support for its traffic law enforcement efforts through the receipt of two new highway patrol vehicles from the Ministry of Finance and Economic Development procured through the Caribbean Development Bank (CDB) funded Road Safety Project. The Government of Belize has received USD7.2 million in loan financing from the CDB towards the cost of the Belize Road Safety Project and is contributing a further USD1.6 million. The vehicles were officially handed over to the Honourable Rene Montero, Minister of Works and Transport on Friday, June 28, 2013. The patrol vehicles will be fully equipped with hand held Speed Radar Guns and portable alcohol testing equipment, in addition to emergency and incident management equipment, such as traffic cones, reflective triangles, high- visibility jackets, and base and handheld radios. According to data from the Ministry of Health on Road Safety, Belize recorded a high number of road deaths in 2012, equivalent to approximately 19 traffic deaths per 100,000 inhabitants. […]

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CDB Donates to Local Primary School

Tomorrow, Thursday, July 4, 2013, scores of students of the Chalky Mount Primary School, St. Andrew, Barbados will be recognised for their contributions to the school thanks to a donation of prizes to the school by the Caribbean Development Bank (CDB). CDB presented the school with books suitable for children ages three to ten for its prize giving ceremony. Assistant Bank Secretary and Chairman of the Contributions Committee, Mr. Volville Forsythe said, “We at the CDB are constantly evaluating ways in which we can assist communities in our member countries in making strides in their development process. Our children are the key because they will be the driving force in the development of our Region. Books are an invaluable vehicle for learning and knowledge sharing. We are pleased to assist the Chalky Mount Primary School with its prize giving ceremony.” Mrs. Suszanne Layne, Fundraising Coordinator for the Ceremony thanked CDB for its donation. “At the Chalky Mount Primary School we place a great deal of emphasis on preparing […]

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